Probability Age of Female A 50-year-old woman wants to purchase a $100,000 Death one-year life insurance policy. What should the 20 0.00050 insurance company charge the woman for the policy if it wants an expected profit of $70? 30 0.00060 40 0.00085 50 0.00305 The company should charge her $
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- A bond pays a return (simple interest) of 5% and has a default rate of 3%. This bond is purchased for $1000.00. What is the expected rate of return for the purchaser?Larry purchased an annuity from N insurance company that promises to pay him $2,000 per month for the rest of his life. Larry paid $210,240 for the annuity. Larry is in good health and is 72 years old. Larry received the first annuity payment of $2,000 this month. How much of the first payment should Larry include in gross income?In The Boston Globe on September 30, 2015 you could read that Warren Buffet is worth $62 billion, and that. . .if he gave up on aggressive investing and put his money into a simple savings account, with returns at a bare 1 percent, he’d earn more in interest each hour than the average American earns in a year.Use the data in this story to estimate the annual earnings of the average American. Do you think the estimate is reasonable?
- What is interest?A stock is expected to pay $1.10 per share every year indefinitely and the equity cost of capital for the company is 8.2%. What price would an investor be expected to pay per share ten years in the future? OA. $13.41 OB. $26.82 OC. $20.12 OD. $33.53The following table lists several corporate bonds issued during a particular quarter. Company AT&T Bank Of America General Electric Goldmans Sachs Verizon Wells Fargo Time to Maturity (Years) 10 10 2 3 8 7 Anuall Rate (%) 3.40 3.00 5.25 7.15 5.15 2.50 If the General Electric bonds you purshased had paid you a total of $8,840 at maturity,how much did you originally invest? (Round your answer to the nearest dollar.) $
- You plan to purchase dental insurance for your three remaining years in school. The insurance makes a one-time payment of $2000 in case of a major dental repair (such as an implant) or a one-time payment of $160 in case of a minor repair (such as a cavity). If you don't need dental repair over the next 3 years, the insurance expires and you receive no payout. You estimate the chances of requiring a major repair over the next 3 years as 3%, a minor repair as 67% and no repair as 30%. What are the possible values of X?The following table shows the average life expectancies in several countries. Assume that all premiums you calculate are based on end-of-month deposits in a fund yielding 4.8% annual interest compounded monthly to be paid out when a person reaches the life expectancy. Country Japan Canada U.K. U.S. Mexico China India LifeExpectancy:Male 80 80 79 76 73 74 64 LifeExpectancy:Female 87 84 83 81 79 77 68 Calculate the life insurance monthly premium that a 40-year-old female in Japan would pay for a $5,000,000 policy. (Round your answer to the nearest cent.) $________Dr. Stephanie Andrews (3) Value 30000 27500 25000 22500 20000 17500 15000 12500 10000 7500 5000 2500 0 0 Value of a 2013 Chevy Impala Over Time 1 2 3 Years Since Purchase a. Estimate the value of the car at Year 3. 4 c. How much does the car depreciate each year? act A rental car company purchased a new Chevy Impala for $27,385. The company determined this asset should be depreciated for five years using the straight-line depreciation method. At the end of five years, the car will be worth $9,405. y (³) 5 b. Did you use interpolation or extrapolation to estimate the value in part a? Explain. 6 d. Write an algebraic model to find the value of the car given the years since purchase. the car at Year 3. 2
- The following table lists several corporate bonds issued during a particular quarter. Wells Fargo Bank of General Goldman Company AT&T Verizon America Electric Sachs Time to Maturity (years) 10 10 2 3 8 7 Annual 2.40 5.00 4.25 5.15 4.15 4.50 Rate (%) If the General Electric bonds you purchased had paid you a total of $6,510 at maturity, how much did you originally invest? (Round your answer to the nearest dollar.) $The following table lists several corporate bonds issued during a particular quarter. Bank of America General Goldman Wells Company AT&T Verizon Electric Sachs Fargo Time to Maturity (years) 10 10 2 3 Annual 4.40 4.15 4.25 6.15 5.00 3.50 Rate (%) Would Bank of America or Verizon pay the most total interest on a $3,000 bond at maturity? How much interest would that be? Bank of America would pay $ in interest on a $3,000 bond at maturity. Verizon would pay $ in interest on a $3,000 bond at maturity. So, we see Bank of America v would pay the most interest on $3,000 bond at maturity.Expected Value: Life Insurance Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term (i.e., straight death benefit) life insurance policy until he is 65. The policy will expire on his 65th birthday. The probability of death in a given year is provided by the. Vital Statistics Section of the Statistical Abstract of the United Stales (116th edition). We're living longer now! Up-to-date information can be found in the Actuarial Life Table on the Social Security Administration web site. x= age 60 61 62 63 64 p(death at this age ) 0.01191 0.01292 0.01396 0.01503 0.01613 Jim is applying to Big Rock Insurance Company for his term insurancepolicy.(a) What is the probability that Jim will the in his 60th year? Using this probability and the $50,000 death benefit, what is the expected cost to Big Rock Insurance?(b) Repeat part (a) for years 61,62,63, and 64. What would be the total expected cost to Big Rock Insurance over the years 60 through…
